The renowned Time magazine releases an entire magazine issue as an NFT. This will be the first time a full issue from any digital or print publication has been put on the blockchain.
According to the press release, the issue is featuring Ethereum co-founder Vitalik Buterin on its cover. Hailed as the ‘prince of crypto,’ Buterin talks about Ethereum, NFTs, the Russia-Ukraine crisis, etc, in the interview.
The NFT was created in partnership with the LITDAO and will be airdropped to select TIMEPiece holders and genesis LIT community wallet holders. The issue will be hosted through a decentralized protocol that — similar to LITDAO’s inaugural NFT — will allow holders to read the magazine in its entirety as an interactive NFT. Time’s President, Keith A. Grossman, President stated “As TIME continues to push the boundaries as to what is possible within the web3 ecosystem, producing the first-ever full magazine on the blockchain seemed like a natural extension for our brand and we knew this issue, in particular, would be cherished by our community.” He continued by noting that the team was inspired to create this project as a result of the success they saw with the airdrop of Foto Vault, the first-ever Photobook published to the blockchain. “In this instance, we figured publishing the first-ever, interactive issue of a magazine to the blockchain – not to mention, one that features Vitalik Buterin on the cover and within the issue – would be a special treat to those dedicated community members who own all of our Signature collections,” he said.
To date, TIME’s web3 initiatives have generated more than $10 million in revenue and helped them create a community of over 25,000 artists, collectors, and NFT enthusiasts.